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Deals of the day- Mergers and acquisitions
October 1, 2014 / 10:19 AM / 3 years ago

Deals of the day- Mergers and acquisitions

(Adds Hochtief, Celulosa Arauco y Constitucion, Schneider Electric, Burton’s Biscuits, Adama, CIC, Telecom Italia and Enterprise Products)

Oct 1 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Pipeline company Enterprise Products Partners LP said it would buy crude storage provider Oiltanking Partners LP for $4.41 billion, a strategic move that will expand its export platform on the U.S. Gulf Coast.

** Telecom Italia Chairman Giuseppe Recchi said there has been no contact with Sol Trujillo following reports that the U.S. businessman is interested in bidding for a stake in the Italian telecoms group.

** China Investment Corp (CIC) and AVIC Capital Co Ltd have ended talks to acquire Avolon Holdings Ltd, making it likely that the aircraft leasing company will pursue an initial public offering, according to people familiar with the matter.

** Israel-based agricultural group Adama said it signed a deal to acquire a group of Chinese companies as it seeks to bolster its market position in China ahead of a planned New York share offering.

** Bankers are working on debt financings of up to 1.5 billion pounds ($2.43 billion) to back Jammie Dodgers and Wagon Wheels maker Burton’s Biscuits’ bid for UK-based cookies and snacks maker United Biscuits (IPO-UNI.L), banking sources said.

** Schneider Electric said it had finalised the sale of its sensors business to private equity firms The Carlyle Group and PAI Partners.

** Chile’s Celulosa Arauco y Constitucion said that it will no longer pursue the $107 million acquisition of three mills in the United States from Sierra Pine, after the U.S. Department of Justice opposed the transaction.

** Hochtief, the German building group controlled by Spain’s ACS, is close to the sale of its Formart real estate business, two sources familiar with the matter told Reuters.

** German sportswear maker Adidas, facing investor discontent over its underperforming share price, announced plans to return to shareholders as much as 1.5 billion euros ($1.9 billion) over the next three years.

** Banco Santander, the euro zone’s biggest lender, has found buyers for a 2 percent stake in its Polish unit BZ WBK at 385 zlotys ($116.30) per share, below the market price of 388.2 zlotys, two market sources said.

** Alternative investment manager Investcorp will complete the $1.43 billion sale of Berlin Packaging to Oak Hill Capital Partners in the first week of October, according to a statement.

** Communications and events company UBM Plc said it would acquire Advanstar Communications, a privately held trade show organizer, for $972 million in cash to increase its focus on the events business in North America.

** South Korea’s largest bulk shipper Pan Ocean Co Ltd has been put up for auction, according to a sales notice, becoming the latest asset to be sold by a mid-tier conglomerate which collapsed after an ill-fated expansion drive. The shipper is likely to sell for around 600-700 billion won ($570 million to $660 million), the Korea Economic Daily reported on Tuesday, citing unnamed people in the investment banking industry.

** Mexico’s Grupo Angeles has withdrawn its 430-million-euro ($541 million) bid for Portugal’s Espirito Santo Saude , saying it was unable to go above China’s Fosun offer for the hospital business of the indebted Espirito Santo family.

** Spain’s Banco Popular said on Wednesday that capital gains on the sale of a 51 percent stake in its card issue unit Bancopopular-e were over 400 million euros ($505 million).

** Indonesian mobile telecom operator PT XL Axiata Tbk will sell 3,500 communication towers to telecom infrastructure firm PT Solusi Tunas Pratama Tbk in a 5.6 trillion rupiah ($460 million) deal that will help it cut mounting debt.

** Barclays and Goldman Sachs have sold a 3 percent stake in Spanish travel technology company Amadeus at 28.80 euros per share, the banks managing the sale said, a 2.8 percent fall from its close on Tuesday.

** Canadian pipeline operator TransCanada Corp sold its 30 percent interest in Bison Pipeline LLC to its master limited partnership and hinted that it might speed up such drop-down transactions in the months ahead. TransCanada said it was selling its interest in Bison to TC Pipelines for $215 million in cash.

** Egypt’s EFG Hermes Holdings said its private equity arm bought a 49 percent stake in wind power firm EDPR France for $208 million, according to a statement on Wednesday, its first investment outside the Middle East and Africa.

** Japanese trading house Marubeni Corp is preparing to sell a costly stake in a Canada coal mine for what the potential buyer says could be as little as $1, the day after a Tokyo rival said it would book losses from investments in coal and iron ore that soured as prices fell.

** Slovenia is looking for a buyer for a 70.8 percent stake in metal products maker Cinkarna Celje, the state investment fund SDH said.

** Thai dry bulk carrier Thoresen Thai Agencies PCL said a subsidiary had signed an agreement to buy 9 percent of Singapore-listed Sino Grandness Food Industry Group Ltd for 954 million baht ($29.4 million).

** French carmaker PSA Peugeot Citroen, placed ninth in the world by vehicle sales, is open to potential partnerships, but must complete its restructuring first, its chief executive said.

** Archer Daniels Midland Co strengthened its hand in the global grains marketplace by acquiring a stake in a second export terminal in the U.S. Pacific Northwest, a vital gateway for U.S. agricultural shipments to Asia.

** Mainboard-listed Hiap Hoe Ltd plans to sell 39 shop units, most of which are strata-titled units in Parklane Shopping Mall, in line with its plan to divest non-core assets even as it capitalizes on healthy investor demand for retail space.

** Austrian real estate company CA Immobilien said it was in final negotiations with an unnamed bidder to sell a 460,000-square-meter logistics portfolio which includes assets in Romania, Poland and Serbia.

$1 = 12,155 rupiah $1 = 0.79 euro $1 = 3.31 Polish zloty $1 = 1,058.30 Korean won $1 = 32.45 Thai baht Compiled by Anet Josline Pinto and Anya George Tharakan in Bangalore

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